Inflation drops to 23.2% from 26.4% at end of 2023

The Ghana Statistical Service has revealed the country ended the year 2023 with an inflation of 23.2%.

This represents a 3.2% drop in the 26.4% rate recorded for November 2023.

Releasing the key economic statistic, government statistician Prof. Samuel Kobina Anim adds that both food and non-food inflation also saw significant drop in their rate of inflation for the month of December.

Price increase on a month-on-month basis according to the statistics service has seen a slow down as prices of goods and services between November and December 2023 rose by 1.2% lower than the 1.5% price rise, recorded between October 2023 and November 2023.

At the regionally level the Upper East had the lowest food inflation rate of 18.8%, while the Eastern region had the highest rate of 51.3 percent.

With a food inflation index of 22.2 percent, Greater Accra ranked 14th out of 16 regions.